Smith Chas P & Associates PA Cpas Purchases Shares of 3,363 Corning Incorporated $GLW

Smith Chas P & Associates PA Cpas purchased a new stake in Corning Incorporated (NYSE:GLW) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 3,363 shares of the electronics maker’s stock, valued at approximately $294,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Texas Capital Bank Wealth Management Services Inc increased its stake in Corning by 5.5% in the 4th quarter. Texas Capital Bank Wealth Management Services Inc now owns 2,790 shares of the electronics maker’s stock valued at $244,000 after buying an additional 145 shares during the last quarter. Geode Capital Management LLC increased its stake in Corning by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 20,411,824 shares of the electronics maker’s stock valued at $1,781,250,000 after buying an additional 517,067 shares during the last quarter. Fidelis Capital Partners LLC increased its stake in Corning by 79.5% in the 4th quarter. Fidelis Capital Partners LLC now owns 14,451 shares of the electronics maker’s stock valued at $1,265,000 after buying an additional 6,402 shares during the last quarter. Royal Palms Capital LLC acquired a new stake in Corning in the 4th quarter valued at $3,704,000. Finally, Strategic Financial Services Inc. increased its stake in Corning by 17.1% in the 4th quarter. Strategic Financial Services Inc. now owns 4,111 shares of the electronics maker’s stock valued at $360,000 after buying an additional 600 shares during the last quarter. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have issued reports on GLW. Zacks Research lowered shares of Corning from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. Oppenheimer lifted their price objective on shares of Corning from $120.00 to $210.00 and gave the company an “outperform” rating in a research report on Thursday, May 7th. JPMorgan Chase & Co. lifted their price objective on shares of Corning from $175.00 to $185.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Mizuho lifted their price objective on shares of Corning from $190.00 to $220.00 and gave the company an “outperform” rating in a research report on Tuesday, May 12th. Finally, Wall Street Zen raised shares of Corning from a “hold” rating to a “buy” rating in a research report on Sunday, May 17th. Ten investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $177.92.

Corning Stock Performance

Shares of GLW opened at $183.06 on Friday. The firm has a 50-day moving average of $166.43 and a 200-day moving average of $126.21. Corning Incorporated has a one year low of $48.88 and a one year high of $211.79. The company has a market cap of $157.55 billion, a PE ratio of 87.59, a price-to-earnings-growth ratio of 2.73 and a beta of 1.14. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.61 and a quick ratio of 1.06.

Corning (NYSE:GLW) last announced its quarterly earnings data on Tuesday, April 28th. The electronics maker reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. The company had revenue of $4.35 billion during the quarter, compared to the consensus estimate of $4.30 billion. Corning had a net margin of 11.09% and a return on equity of 19.45%. The company’s quarterly revenue was up 18.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.54 EPS. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. As a group, equities analysts forecast that Corning Incorporated will post 3.19 earnings per share for the current year.

Corning Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Friday, May 29th will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a $1.12 annualized dividend and a dividend yield of 0.6%. Corning’s payout ratio is presently 53.59%.

Corning News Summary

Here are the key news stories impacting Corning this week:

• Positive Sentiment: Corning continues to benefit from investor enthusiasm around AI-driven optical connectivity and photonics, which has helped support the stock’s strong year-to-date rally.
• Positive Sentiment: Recent commentary highlighted upside tied to Corning’s solar and life sciences businesses, with analysts pointing to potential growth from U.S. tariff protection, domestic capacity expansion, and new product opportunities.
• Positive Sentiment: The company’s last earnings report beat expectations slightly, with revenue and EPS both topping estimates and management guiding Q2 EPS above prior levels.
• Neutral Sentiment: Wall Street sentiment remains constructive overall, with Corning carrying a “Moderate Buy” consensus and several recent price targets clustered around the current trading range.
• Neutral Sentiment: The upcoming ex-dividend date may be contributing to some short-term position adjustment, though the dividend yield is modest.
• Negative Sentiment: Sentiment was weighed down by a Zacks Research downgrade from “strong-buy” to “hold,” which can encourage traders to lock in gains after the rally.
• Negative Sentiment: Recent insider selling, including a notable sale by SVP and CTO Jaymin Amin, has added to near-term caution and may be reinforcing concerns about valuation after the stock’s sharp advance.

Insider Activity at Corning

In related news, VP John Z. Zhang sold 10,000 shares of Corning stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $198.34, for a total transaction of $1,983,400.00. Following the completion of the sale, the vice president owned 5,138 shares of the company’s stock, valued at approximately $1,019,070.92. The trade was a 66.06% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Michaune D. Tillman sold 3,260 shares of Corning stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $207.02, for a total transaction of $674,885.20. Following the sale, the senior vice president directly owned 10,174 shares of the company’s stock, valued at $2,106,221.48. The trade was a 24.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 60,655 shares of company stock worth $12,046,561. 0.25% of the stock is currently owned by corporate insiders.

About Corning

Corning Incorporated is a global manufacturer specializing in specialty glass, ceramics and related materials and technologies. Headquartered in Corning, New York, the company supplies engineered materials and components used across multiple industries, including consumer electronics, telecommunications, automotive emissions control, pharmaceutical and life sciences, and industrial and scientific applications. Corning emphasizes materials science and precision manufacturing to develop durable, high-performance glass and ceramic products.

Key product lines include specialty display glass used by television and mobile-device manufacturers, cover glass marketed under well-known trade names for smartphones and tablets, and optical fiber and cable and related hardware for telecommunications networks.